In our article, Charitable Gifting Using Donor Advised Funds, we provided some insight into donor advised funds and listed some of the many benefits that the charitably-minded could garner from using donor advised funds as a component of their charitable gifting strategy. As a follow up to that article, we wanted to provide some information that could be helpful when vetting custodians who offer donor advised funds.
If you’re a grandparent, you likely already offer support in a lot of ways including financial and emotional. But you can also provide practical help. A frequently overlooked area where you can definitely make a difference is with your grandchildren’s personal financial education. Some of us were lucky enough to have a grandparent who we considered a great friend. We …
This article is the third of a three part series titled: 10 Years from Retirement, What is your financial focus? In Part 1, we discussed the importance of tracking and managing your living expenses, as well as, making projections around how much you will spend in retirement. We also stressed the importance of making strategic Social Security decisions. In Part 2, we explored pension decisions, …
Happy 2017! As we begin a new year, it’s always important to re-examine certain elements of your financial plan – especially things that relate to tax planning. Here are a few of the more common items that may impact your financial situation this year. Social Security & Medicare Part B For those receiving Social Security, there is a cost of living …
We, at Beacon Financial Strategies, believe strongly that the most effective investment strategy is one that is developed within the context of a financial plan and customized to meet your personal risk profile and return requirements. Click here to learn more about our investment philosophy. Research has proven time and again that it is impossible to consistently time the financial markets, by …
Donor advised funds can be a great tool in your charitable gifting strategy. This article discusses attributes and unique features of donor advised funds.
If you’re 10 years or so away from retirement, you’ve probably spent at least some time thinking about what your life will look like after retirement. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you consider relocating? Will you continue to work in some …
Have you ever heard of an “investment glide path?” It is an important concept for retirees and pre-retirees to consider. Choosing the correct glide path could make an enormous impact on your financial well-being in retirement.
Parents with special needs children can face a unique set of financial challenges. However, like all financial challenges, it is important to take measures early to financially prepare for the future. Here are a number of financial planning ideas and considerations for those parents who have special needs children.
Here are answers to a number of common questions regarding your Social Security benefits.
On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015, legislation that raises the federal debt limit and establishes the framework for a two-year budget deal. The legislation, necessary to avoid an impending default on U.S. debt, also contains multiple unrelated provisions, including an elimination of two Social Security retirement benefit claiming strategies and a …
Small business owners have a number of alternatives to choose from when it comes to establishing retirement plans for their business. Each plan type can vary in their contribution level and matching requirements, as well as their ongoing regulatory and administrative burden. In order to make an informed decision as to the type of retirement plan that works best for you, it is important that you consider the specifics of your business.
This article explores four elements of an investor’s risk profile – risk capacity, risk required, risk tolerance and risk perception. Understanding each type of risk is an essential element of building an investment portfolio that can both meet your specific investment needs, while allowing you to sleep easy during times of personal and financial stress.
Increasingly, families have to figure out how to best deal with dementia and other memory-related impairments that naturally happen as people age. This is especially true when navigating the complex and often times confusing area of personal finances. So, what can you do to prepare yourself should you, or a member of your immediate family develop dementia? Here are a few ideas that you may find helpful.
Find out the maximum contribution limits that can be made to most retirement savings accounts including 401(k) plans, 403(b) plans, traditional and Roth IRAs for 2015.
There is no doubt that pensions are an extremely important asset and making decisions regarding these plans can be daunting and stressful. This is especially true since pension decisions are irrevocable! This article addresses common questions that should be considered when making decisions about your pension.
It looks like 2014 is going to be a huge year for mutual funds making capital gain distributions. While on the surface capital gains sounds like a good deal, but in reality they can pose a tax nightmare for some investors – especially people who invest in mutual funds in non-retirement (taxable) accounts. This article explains the problem with mutual fund distributions and provides a resource for those performing year-end tax planning.
Are you seeking ideas to reduce your tax burden this year? This article provides insight into a number of financial planning strategies that could prove effective at reducing your taxes in 2014.
In order to make your meeting with the estate planning attorney more efficient and productive, here are few items that you need to think about or decide on.
Normally, when someone mentions hybrids they are referring to fuel-efficient, money-saving cars. Like hybrid cars, the intention of hybrid long term care insurance policies is to provide cost-saving insurance coverage by combining both life insurance (or an annuity) with long term care coverage.